Building B in Prague’s BB Centrum has acquired another tenant. This March, ABInBev, the largest brewer in the world, owning brands such as Stella Artois, Leffe and Corona, headquartered its global shared service centre here on an area of more than 7400 m2. The owner and manager of the building is the Passerinvest concern.
The year 2020 closed stores, drove people out of offices and significantly changed conditions in the real estate market. While until last spring, commercial property owners could choose who to rent space to and set prices, now the situation has changed.
A total investment volume of €290 million was transacted in the Czech Republic during the first quarter of 2021, according to Savills latest research. Without the exceptional €1.3 billion Residomo portfolio sale transaction, the investment volume was only down by 8% y-o-y.
The developer AFI Europe, which has so far implemented three phases of the Classic 7 Business Park administrative center in the field of office real estate, AFI Karlín, AFI Vokovice and AFI City 1, has decided to take a major step in the fight against the coronavirus pandemic and in protecting its tenants. It is newly installing a unique system of Global Plasma Solutions (hereinafter referred to as GPS) in the common areas of its office buildings, whose patented technology based on bipolar plasma ionization effectively eliminates bacteria and viruses in the interior of buildings, including elevators. For SARS-COV-2, tests have even shown 99.8% efficacy. The same system is already used abroad, for example, by the White House - the seat of American presidents in Washington, Harvard University or Google.
Last year, the demand for offices in virtually all European countries fell sharply. Compared to 2019, it decreased by 41% to 9 million m2. This was the lowest volume of realized demand since 2009. According to analysts of the international consulting company BNP Paribas Real Estate, there is already a recovery in this year's tenant activity, but the office market is not expected to recover until 2022. At that time, demand should reach 12.2 mil. m.
Dirt, cables, holes and dust everywhere. Robot manufacturers and developers are enthusiastic about the premises located in the newly built TechTower science and technology park in Pilsen. At least according to the words of Luďek Šantory, director of the Information Technology Administration of the City of Pilsen, under which the project falls. This is a two-storey space of the original boiler room in which the explosion occurred. This has created an ideal place for developers, which provides them with real conditions.
The activity of real estate investors fell to the lowest values since 2013 in the first quarter of this year. The owners changed their commercial (and residential) buildings for EUR 310 million. Rather than the effects of covid measures, the result was affected by the lack of quality real estate to buy.
Explosion of teleworking, advent of flex-office, new organization of spaces: the place of the office in the post-Covid-19 economy is clearly being called into question.
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